A construction news update; it has been predicted that the current level of output in the construction level is set to spike considerably in the coming years, with recent construction industry research, as undertaken by Leading Edge, predicting a considerable jump of 3.3% on those figures achieved in 2015. This,
Increasingly, property is seeing the integration of technology on an ever-expanding scale. With potential occupiers no longer being quite as satisfied by the mere bricks, mortar and location offered by a property, the demand for technological integration in properties is on the rise. As such, the expectations for technology to
A mixture of good and bad can be perceived in the professional trades industry. On the one hand, it has been noted that there has been a great surge in tradespeople confidence, hitting the highest figures it has reached in the past 3 years; certainly a good sign of success
BDC 319 : Aug 2024
A construction news update; it has been predicted that the current level of output in the construction level is set to spike considerably in the coming years, with recent construction industry research, as undertaken by Leading Edge, predicting a considerable jump of 3.3% on those figures achieved in 2015. This, in effect would represent a predicted figure of £135.3bn for 2016. Signalling a boom period for the construction industry which has not been witnessed since before the recession, the figures actually outshine the boom period of 2007’s figure of £133.7bn; an incredible piece of good news for construction industry sceptics. And looking at the various areas expected to see such considerable degrees of growth, the spread is, in fact expected to be quite far and wide, touching an assortment of industry sectors. Key areas, however, which are predicted to see a level of considerable growth include the private housebuilding sector, the industrial sector and also that of infrastructure. While not dubbed as one of the key sectors to see massive growth this year, the commercial sector is actually forecast to enter the green once more, with a degree of growth expected, in contrast to the reduction witnessed last year; a statistic no-doubt welcomed by the industry. Although many sectors are expected to see the benefit of the emerging boom, the public housing sector, however, has not been predicted to see growth this year, with a shortfall actually considered to be on the books for the year. An unfortunate prospect for the sector, but one which has arguably been predicted long in advance. The figures, of course, do indeed highlight a very strongly performing sector in the whole. As such, industry optimism remains high, with Mel Budd, Director of Leading Edge commenting: “Although the Office of Budget Responsibility has just downgraded its GDP forecasts, the UK economy is still relatively healthy and one of the fastest growing western economies, which will help grow output in the construction sector.”
Increasingly, property is seeing the integration of technology on an ever-expanding scale. With potential occupiers no longer being quite as satisfied by the mere bricks, mortar and location offered by a property, the demand for technological integration in properties is on the rise. As such, the expectations for technology to play a greater role in influencing the leasing, renting and buying properties, the time for developers to step up on the technological front is nigh, as can be seen in KMPG’s latest report. In the report by KMPG’s, predictions have been made as to how the sector will be in some 20 years’ time. Of the results shown, the most noteworthy aspect is the key role in which the level of technology and management processes behind the scenes of properties will come to play in the coming times. At the same time, fortunately, it has also being predicted that technology companies will also be able to deliver this more effectively in the future too. A concept not yet fully integrated in the UK property sector, one of the key areas highlighted by Tudor Aw, KMPG’s Head of Technology, will not only be the hardware associated with a property, but also the software. With the operating system of a property itself predicted to see as important a role as it does on the common smartphone, it is even expected that the modern property’s operating system may even see updates every few weeks. Of course, the move towards technology-led buildings may also see a change in the vary nature of how properties may be managed, paid for and even handled as a concept. In fact, Aw highlights the possibility as to whether the business model may see a move towards property developers actually “owning” customers, yet then, in return providing low-cost homes which are then supported by a whole host of technological benefits and possibilities.
A mixture of good and bad can be perceived in the professional trades industry. On the one hand, it has been noted that there has been a great surge in tradespeople confidence, hitting the highest figures it has reached in the past 3 years; certainly a good sign of success in the industry itself. Yet, on the flip-side, it has been reported that, despite this level of confidence (and perhaps as consequence of), it is also the case that some 58% of tradespeople are actually needing to turn down work (published in ECIS’s latest industry survey). With a positive 48% of tradespeople who partook in the survey commenting that they remain confident about their success over the coming year, it could be theorised that the sector is performing fairly well. Yet, with 41% also saying that they feel considerable pressures on the fulfilment of contracts, there are also concerns that the profession is simply under too much pressure to pursue an “all work and no play” philosophy to life. With a questionable balance in fray on the division which tradespeople will be able to maintain between work and general day-to-day life, some 60% of respondents noted to the pressures they feel from work and 25% commenting that they also need to work evenings and weekends on a regular basis. This poses a concerning question as, while the industry does seem to be performing well in terms of confidence and levels of work available, it is mixed with those concerns as to the profitability of working in the sector when bearing in mind the sheer workloads and stresses associated with it. As a result, 22% of those surveyed have denied that they would look to encourage new blood to pursue a career in the industry, which is also effectively where the future of the industry itself will lie. Phil Scarrett, ECIS’s Sales and Marketing Director commented: “There is no shortage of work to go around, but serving that demand is evidently a source of significant pressure for tradespeople.”
